- CNTV English - CCTV News

Homepage > News > Biz >

Record number of Chinese says prices too high: central bank

06-18-2010 17:27 BJT

BEIJING, June 17 (Xinhua) -- A record number of Chinese said current prices were "too high to be acceptable", according to survey results released on Thursday by the People's Bank of China (PBOC), the central bank.

The survey, published on the PBOC's website, indicated that 58.9 percent of the respondents, a record high in the past decade, said current prices were too high, while satisfaction with consumer prices fell to 21.7 percent in the second quarter, 4.2 percentage points lower than in the first quarter.

China's consumer price index (CPI), a main gauge of inflation, hit a 19-month high with a 3.1 percent year-on-year rise in May, surpassing the target of 3 percent annual inflation set by the government in March.

During the first five months of 2010 China's CPI rose 2.5 percent year on year. On June 12, the National Development and Reform Commission projected a 2.6 percent growth in CPI for the first half of this year.

The survey also said 72.5 percent of the respondents held that current home prices were "too high to be acceptable". The percentage figure began to climb during the second quarter of last year and hit a record high in the second quarter of this year.

Consumers' expectations for further increases in home prices has weakened, with 29.3 percent of the respondents expecting gains in property prices, down 10 percentage points from the first quarter.

Also, the percentage of participants who were prepared to buy homes in the next three months dropped to 15.5 percent, the second consecutive quarterly decline, according to the survey.

The survey came after home prices in the country's 70 large and medium-sized cities rose 12.4 percent year on year in May after an increase of 12.8 percent in April, a record high not seen since July 2005.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program